Business

Glencore has paid Iraqi Kurdistan $300 million as an advance for oil as it seeks to compete with trading houses Vitol [VITOLV.UL] and Petraco for profitable business despite disruptions and political instability, industry sources said. Glencore, which declined to comment, has made a prepayment in recent days to the government …

The Kurdistan Regional Government (KRG) refers to a decision of the English Commercial Court of 20 November 2015. The Court’s decision does not relate to the substantive merits of the claims and counterclaims in the on-going arbitration between the KRG and Dana Gas PJSC, Crescent Petroleum Company International Limited and …

Kurdistan’s new envoy to Washington has sought to persuade American businessmen that the threat from Islamic State (ISIS) militants is under control and that Iraq’s northern region is a safe destination for investment. In one of her first official duties as the Kurdistan Regional Government’s (KRG) envoy to the US, …

Gulf Keystone Petroleum and Genel Energy – the oil group run by former BP chief executive Tony Hayward – have welcomed an deal between Baghdad and the Kurdistan Regional Government that has enabled them to receive $40m in overdue export revenues. Under the terms of the agreement, which was stuck between the KRG …